CryptoQuant says bitcoin mirrors 2022 bear market pattern as sentiment turns ‘extremely bearish’
Bitcoin’s recent rally hit resistance at the 200-day MA near $82,400, a pattern CryptoQuant said is similar to the March 2022 bear market.
SpaceX is gearing up for what's likely to be a blockbuster IPO, and Elon Musk's aerospace and AI firm holds more Bitcoin than expected.
The rocket and satellite company is looking to go public at a valuation of more than $1.5 trillion.
May 20, 2026, 9:32 pmStrategy Inc. now holds more Bitcoin than any other institution, but Bitcoin prices have still fallen to a three-week low. The company bought 171,238 BTC this year, far more than the roughly 62,000 BTC mined globally during the same period.
May 20, 2026, 8:05 pmBitcoin’s recent rally hit resistance at the 200-day MA near $82,400, a pattern CryptoQuant said is similar to the March 2022 bear market.
As volatility persists in the market, Bitcoin faces a potential retest of the $70,000 price level following the recent pullback. With this waning price action, demand for the flagship asset among investors and traders is exhibiting a trend that could spell trouble for its near-term direction.
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Bitcoin experienced volatile, range-bound trading, repeatedly struggling to sustain a breakout above $77,000. After a midnight surge from $76,700 to $77,200, it hit an intraday high of $77,604 before stabilizing around $77,500.
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